This month, CIMB Fixed Deposit Offers 2.70% p.a. (per annum). This is probably the best fixed deposit in town right now. From 9 September 2022 to 30 September 2022, you can get up to 2.70% p.a. on your 18-month placement.
In July, I just did a 18 months fixed deposit placement with CIMB at 2.25% per annum as I have some spare cash sitting around with CIMB FastSaver. As interest rates continue to rise in just a short span of 2 months, most fixed deposits are getting more attractive in terms of interest rates than ever before.
Here are the details of CIMB September Fixed Deposit Promotion’s Tenure and their respective Interest rates.
|Tenure||Personal Banking (Online Promotion Interest Rate (%p.a.) $10,000 and above||Preferred Banking (Online Promotion Interest Rate (%p.a.) $10,000 and above|
How Does CIMB Fixed Deposit Fare Against Singapore Savings Bond (SBOCT22)?
If you compare this promotion with the latest issue of Singapore Savings Bond (SBOCT22 GX22100X), the return for Singapore Savings Bond is slightly better at 2.60% p.a. versus 2.45% p.a. (personal banking) and 2.50% p.a. (preferred banking) based on a 12 months placement.
Unless you have maxed out your investment in Singapore Savings Bond, then do consider CIMB’s September Fixed Deposit Promotion.
Should I Invest All My Money in REITs or Opt for CIMB Fixed Deposit at 2.70%?
Many dividend investors shared that they will put all their monies in REITs for the better yield at above 5.0% per financial year.
I am also a dividend investor and if you look at my stock portfolio, I held many REITs as well. However, I strongly believe not to put all the eggs into the same basket. The risks and liquidity involved in different financial instruments such as REITS, Singapore Savings Bonds and Fixed Deposits are different.
I believe in diversifying and placing my monies into different financial instruments and not concentrating all my monies into one type.
Well, that is just me. Everyone’s risk appetite is different.